SULAIMANI, Kurdistan Region – The Central Bank of Iraq (CBI) will cover the cost of solar energy system loans for Iraqi citizens, including those in the Kurdistan Region, as part of a national push to reduce reliance on imported electricity, Kurdish lawmaker Amanj Mahmoud Agha told Zoom News.
Official guidelines for the initiative are expected to be released next week. The CBI will partner with multiple banks and solar energy firms to implement the plan.
Loans will range from 7 million to 30 million Iraqi dinars for households, while private businesses can access funding starting at one billion dinars.
The first phase of the rollout will involve 18 solar companies, with a second phase expanding the number to 70.
The move comes amid concerns over worsening electricity shortages this summer, following U.S. pressure on Iran that has disrupted Iraq’s access to Iranian gas imports.
The Iraqi government, under Prime Minister Mohammed Shia al-Sudani, aims to preempt a crisis and ensure power stability through domestic renewable energy sources.